Ritchie Bros, a seller of used industrial equipment recently celebrated the one year anniversary of Ritchie Bros EquipmentOne, the secure online marketplace launched in early 2013.
In its first year, EquipmentOne (www.EquipmentOne.com) welcomed 580,000 unique visitors to the site and sold equipment and materials for both large corporate customers and private sellers. Complementary to Ritchie Bros' flagship unreserved auction business, EquipmentOne is an online marketplace for the sale of equipment and materials where buyers and sellers can negotiate, complete, and settle their transactions in a safe and transparent environment.
"Ritchie Bros EquipmentOne is unlike any other equipment marketplace—it offers sellers control of the selling price and process while providing buyers transparency and security across a broad selection of assets," says Bob Armstrong, Ritchie Bros chief strategic development officer. "With EquipmentOne and our live unreserved public auctions, Ritchie Bros is the only place you need to go to buy or sell used equipment or materials. We offer the world's builders a complete solution set to serve a wide variety of needs. If a seller wants control of price and process, EquipmentOne can help. Or, if the seller wants certainty of sale and global market value, they can use our unreserved auctions. Ultimately, it's all about meeting the needs of the customer."
Ritchie Bros. EquipmentOne was initially launched in early 2013 and had a full commercial launch in April. The Marketplace already has hundreds of thousands of qualified members around the world. Members can create personal watchlists, save searches, review market pricing with the Ritchie Bros Orange Book, and make offers on listings. Membership to EquipmentOne is free.
"We sold thousands of equipment items from a wide variety of industries on EquipmentOne in 2013," says Chris Connell, president of EquipmentOne. "From our core industries of transportation, construction and energy, particularly strong categories included highway trucks and trailers, earth-moving equipment and tubular assets such as line pipe and OCTG for the energy sector."
How EquipmentOne works:
Sellers can create their own listings or work with Ritchie Bros to create listings including equipment photos, detailed asset information, and price parameters which may include an Asking price or a 'Buy it Now' price for a typical listing period of two weeks. EquipmentOne continually brings a qualified buying audience and promotes the seller's listing through its comprehensive marketing campaigns.
Negotiations take place using the Online Negotiation Engine. Buyers are able to make transparent offers for the seller's consideration during the listing period. When the listing period concludes and the item is sold, EquipmentOne provides complete financial settlement services to ensure a safe and seamless transaction.
Some unique site features include:
- EquipmentOne Total Buyer Protection--ensures buyers are protected through an escrow process, seller experience ratings and facilitated dispute resolution
- Ritchie Bros Orange Book--provides valuable market information to help buyers and sellers assess equipment pricing
- Online Negotiation Engine--provides complete transparency into the negotiation process
- Biggest source of equipment listings on the web--EquipmentOne provides the most equipment listings anywhere on the web by including equipment being sold in Ritchie Bros unreserved auctions, as well as equipment listed on other websites all across the internet. There are currently more than 3.6 million listings showing on EquipmentOne.